NNN-Leased Commercial
651 South Federal Highway, Pompano Beach, FL 33062
For Sale
Contact for pricing
The tenant operates under a 15-year triple-net agreement that began in 2019.
Property Size35,137 SF
Lot Size1.30 Acres
Price / SF$276.81
Days on Market57
Property Features for 651 South Federal Highway
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Gross Income
Building Details
Tenancy
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License NY 49KU1129178
(332) 345-4222
Source:
Crexi
Added: Sep 17
Changed: Nov 5
Last Checked: Nov 12 at 4:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SURMOUNT
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Investment Insights
Based on property information with market context.
Sundance Marine occupies approximately 35,137 rentable square feet on a 1.3-acre parcel. The property is leased under a 15-year triple-net agreement that started on 8/2/2019, with rent increases of 10.00% every 5 years.
The property is at 651 South Federal Highway in Pompano Beach, Florida.
The property is at 651 South Federal Highway in Pompano Beach, Florida.
Key Highlights
- Approximately 35,137 rentable square feet on a 1.3‑acre parcel
- 15‑year triple‑net lease commencing 8/2/2019
- Scheduled rent increases of 10.00% every 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$853,576
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,071,520
$17.1M
Cap Rate 7%
$12,193,943
$12.2M
Cap Rate 9%
$9,484,178
$9.5M
Market Conditions
NOI Build-Up for 35,137 SF
Gross rent
$1.26M $36.00/SF
− Vacancy
−$45.5K −$1.30/SF
EGI
$1.22M $34.70/SF
− OpEx
−$365.8K −$10.41/SF
NOI
$853.6K $24.29/SF
Area
Pompano Beach, FL
Vacancy
3.60%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,071,520
Cap Rate 7%
$12,193,943
Cap Rate 9%
$9,484,178
Alternative Uses
Best Use
Retail
$12.19M
$10.67M – $14.23M
NOI $853,576 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.70M
$11.99M – $15.99M
NOI $959,240 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 33062, FL
25,293
Population
23,059
Households
1.1
Avg Household Size
60
Median Age
48%
College-Educated
94%
High-School Grad
3.9 sq mi
ZIP Area
6,485
Density / Sq Mi
$82,955
Median Household Income
$56,828
Median Earnings
$1,888
Median Rent
$511,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for NNN properties in Broward County, FL
Properties on Market for NNN properties in Broward County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
NNN property - The tenant operates under a 15-year triple-net agreement that began in 2019.
Where is this nnn property located?
The property is located at 651 South Federal Highway Pompano Beach, FL.
What is the asking price?
The asking price for this property is $9,726,316.
What are key features of this property?
This property features: Approximately 35,137 rentable square feet on a 1.3‑acre parcel; 15‑year triple‑net lease commencing 8/2/2019; Scheduled rent increases of 10.00% every 5 years
